There are claims that the GDB's default is a huge blow to local bondholders, but the government claims the people are the priority
The suspension on interest payments by the Government Development Bank (GDB), as well as the default incurred this week on other bonds issued by the government, will represent a "huge impact" for thousands of people in Puerto Rico who need this source of income to survive, and it will negatively affect the stability of the Island's credit union sector.
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